Agriculture News
Grains are expected to open sharply higher amid building weather concerns.
Corn, soybean and wheat futures built on Thursday’s strong gains during overnight trade amid heightened crop concerns.
USDA’s weekly export sales data for week ended June 8, showed a second straight week of increasing soybean sales, while corn sales were mediocre. Wheat sales during the week were shy of the pre-report range by 35,000 MT.
Drought removal or improvement is expected across much of the western Corn Belt, while eastern areas will trend drier.
Grain markets are expected to open sharply higher amid weather and crop concerns for corn and soybeans.
Mounting weather concerns supported corn and soybean futures overnight, while wheat followed to the upside.
Iowa DDG prices fall below $200 per ton; Illinois soymeal prices nearing $400 per ton.
The Fed hit the pause button this month, but new projections show another two rate hikes are likely this year.
Basis dropped for both corn and soybeans but remained better than average.
Grain and soy futures are expected to open moderately to sharply lower despite supportive outside markets.
Corn and soybeans pulled back from their recent gains during overnight trade. Wheat was led lower by HRW contracts amid increased harvest activity.
Corn and soybeans are expected to open moderately to sharply higher on support from crop concerns. Wheat is likely to be mixed.
Corn and soybeans were supported overnight by the bigger-than-expected declines in crop condition ratings, while wheat faced price pressure.
Corn and soybean CCI ratings are well below year-ago, while the spring wheat rating is still above last year at this time.
USDA reported soybean export inspections of 140,179 MT, missing the low-end pre-report estimate of 175,000 MT, while corn inspections were near top-end estimates but were down slightly from the previous week.
Corn and soybeans are expected to open higher on weather/crop concerns. Wheat is called mixed this morning.
Short-term trends turn bullish for soybeans, soyoil and oats.
Corn futures posted double-digit gains overnight amid increased weather/crop concerns. Soybeans also traded higher, while wheat was narrowly mixed.
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Winter wheat production was reported the average trade guess, due to a notable drop in estimated SRW wheat production from May. Meanwhile, U.S. carryover for corn and soybeans landed above pre-report estimates.